As used in this subchapter:(1) 'Blockchain network' means a group of computers operating and processing together to execute a consensus mechanism to agree upon and verify data in a digital record;(2) 'Digital asset' means cryptocurrency, virtual currency, and natively electronic assets, including without limitation stable coins, nonfungible tokens, and other digital-only assets, that confer economic, proprietary, or access rights or powers;(3) 'Digital asset miner' is an individual who mines for digital assets;(4) 'Digital asset mining' means use of electricity to power a computer for the purpose of securing or validating a blockchain network;(5) 'Digital asset mining business' means a group of computers working at a single site that consumes more than one megawatt (1 MW) on an average annual basis for the purpose of generating digital assets by securing a blockchain network;(6) 'Home digital asset mining' means mining digital assets in areas zoned for residential use;(7) 'Legislative body' means the quorum court of a county or the city council, board of directors, board of commissioners, or similarly elected governing body of local government;(8) 'Local government' means a lative body' means the quorum court of a county or the city council, board of directors, board of commissioners, or similarly elected governing body of local government;(8) 'Local government' means a county, a city of the first class, a city of the second class, or an incorporated town;(9)(A) 'Node' means a computational device that contains a copy of blockchain-distributed ledger technology.(B) 'Node' includes a series;(10) 'Ordinance' means an ordinance, resolution, or other appropriate legislative enactment of a legislative body ;(11) 'Person' means an individual or legal entity; and(12) 'Residence' means a permanent dwelling place, unit, or accessory structure.Amended by Act 2024, No. 173,§ 1, eff. 5/3/2024.Added by Act 2023, No. 851,§ 1, eff. 8/1/2023.
Arkansas Legal Code